RBI governor speaks on microfinance regulation challenges

subbarao-reservebankofindia

The governor of the Reserve Bank of India (RBI), Duvvuri Subbarao, delivered a speech on July 4 in which he reviewed problems caused by unregulated microfinance institutions (MFIs) and set out measures designed to address these issues.

Speaking at the Indian Overseas Bank platinum jubilee oration series in Chennai, the RBI governor said initial poor regulation of MFIs had led to allegations of "usurious interest rates, coercive recovery practices and multiple lending", but that the subsequent

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.